Dr. Mansukh Mandaviya, Union Minister for Labour & Employment and Youth Affairs & Sports, chaired a roundtable meeting with representatives from Central Trade Unions Organisations (CTUOs) in New Delhi.
The meeting, attended by Union Minister of State for Labour & Employment, Smt. Shobha Karandlaje, and senior officials of the Ministry, centered around critical labor-related discussions, with a spotlight on the newly proposed Employment Linked Incentive (ELI) scheme—a key feature of the recent Union Budget.
Recognizing Labor as the Backbone
The Union Minister set the tone by reaffirming the government’s unwavering commitment to the welfare of the labor force. He emphasized that workers are the backbone of the nation’s economic growth and development.
Their well-being directly impacts the prosperity of our society. The roundtable provided a platform for trade unions—the voice of our workers—to actively contribute to policy shaping.
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Trade Unions Roundtable: The ELI Scheme
Understanding ELI: The Employment Linked Incentive (ELI) scheme aims to encourage businesses to create more jobs. It’s not just about numbers; it’s about meaningful and sustainable employment. Dr. Mandaviya stressed that the scheme is designed to benefit the youth of our country, providing them with opportunities to contribute to the workforce.
Direct Benefit Transfer: Under ELI, eligible first-time employees will receive a direct benefit transfer equivalent to one month’s salary, up to Rs. 15,000. This financial boost is spread across three installments. The eligibility limit for this support is a monthly salary of Rs. 1 lakh.
Scheme A: For freshers entering the workforce, Scheme A offers a subsidy of one month’s wages. To receive the second installment, employees must complete a compulsory online Financial Literacy course. If employment ends within 12 months, the subsidy must be refunded by the employer.
Scheme B: Targeting the manufacturing sector, Scheme B encourages substantial hiring of first-time employees. Employers with a three-year track record of EPFO contributions must hire either 50 new employees or 25% of their current workforce (whichever is higher) to be eligible.
Scheme C: This scheme supports employers who increase their workforce above the baseline by at least two employees (for those with fewer than 50 employees) or five employees (for those with 50 or more employees) and maintain this level.
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Perspectives of Trade Unions
Representatives from various CTUOs actively participated in the discussion. They shared insights on the proposed ELI scheme and other labor welfare measures. Their perspectives ranged from ensuring fairness to promoting inclusivity.
Dr. Mandaviya assured the trade unions that such dialogues would continue, emphasizing the government’s eagerness to seek valuable inputs.
Policies and schemes, he reiterated, should align with the principles of fairness, inclusivity, and equitable growth.
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